European mcommerce market to top £20 billion in 2014by
The Centre for Retail Research has underlined the growing importance of mcommerce by releasing forecasting figures stating that Europeans are set to spend £19.8 billion on mobile shopping in 2014.
The statistics also confirm that the UK holds the biggest mcommerce market in Europe, with a predicted spend of £7.9 billion this year, up from £4.9 billion in 2013.
Globally, the US is the largest mcommerce market, with a spend of £22.8 billion last year accounting for 14% of the world mobile retail market, which was worth £165.3 billion in total. The European market was worth 8% of the total, in comparison.
“The emerging mcommerce market today in Europe and the US resembles that of e-commerce in the early part of last decade,” says Giulio Montemagno, senior vice president of international at RetailMeNot, who commissioned the research through the Centre of Retail Research.
“As smartphones and tablets have become increasingly sophisticated, more consumers are using mobile devices to shop. This is a trend we are seeing both in-store and online, with consumers using smartphones to research products, looking for voucher codes and making purchases. Our study suggests that purchases on [mobile devices] could account for nearly a fifth of all online transaction in the UK this year and some £7.9 billion in sales.”
13% of the UK’s ecommerce spend was delivered through mobile devices in 2013, according to the research. In 2014, the market is set to expand further to account for around 18% of all online expenditure. Despite this, Poland, Germany and France are expected to lead mcommerce growth in Europe over the course of this year, with the market growing by 113% in Poland, 112% in Germany, and 106% in France. While still growing rapidly, the UK has already reached a more mature level, with growth of 62% forecast, the lowest level in Europe.
“The study shows that mobile is now the key driver behind the growth of ecommerce. While sales made on desktop or laptop computers are expected to grow by 9% in the UK in 2014, they are expected to increase by 62% on mobile devices.” adds Giulio Montemagno. “To take advantage of this shift, retailers must adapt by optimizing their websites to mobile devices and ensuring payments are secure.”
Chris is Editor of MyCustomer. He is a practiced editor, having worked as a copywriter for creative agency, Stranger Collective from 2009 to 2011 and subsequently as a journalist covering technology, marketing and customer service from 2011-2014 as editor of Business Cloud News. He joined MyCustomer in 2014.